The shares of Pritish Nandy Communications were up nearly 10 per cent on Monday after it announced that Ratan Tata, Chairman Emeritus of Tata Sons and Tata Trusts, has acquired a stake in the company.
It closed at an intra-day high of ₹23.50 on the BSE, up ₹2.10 or 9.81 per cent. It opened at ₹21.75 as against the previous close of ₹21.40. The company’s shares were locked in their 10 per cent upper circuit limit on the NSE at ₹23.55, up ₹2.10 or 9.79 per cent.
Tata, who is known to invest in start-ups and technology companies, invested an undisclosed amount in the media company in his “personal capacity.”
“Mr Ratan Tata, Chairman Emeritus of Tata Sons and Chairman of Tata Trusts, has, in his personal capacity, acquired a stake in Pritish Nandy Communications Ltd through market purchases last week. Mr Tata invests in start-ups and technology companies,” the company said in a regulatory filing.